A new phase has begun in the maturation of China as an economic superpower, an era that President Xi Jinping has taken to calling “the new normal.” The ongoing challenge for Beijing is to transition from a largely investment-propelled, export-oriented economy to one increasingly driven by consumption.
Yesterday's post by Jose Da Silva about progress in Colombia against graft is a welcome push back to the out of date stereotype that corruption is just how business is done there. To paraphrase a senior executive at Siemens, there are honest, decent people everywhere who want to do business the right way. You find them and then you can do bribe-free business.
Job Title: Legal Compliance Specialist
Location: Beaverton, Oregon (USA)
Yes it's true. Latin America is perceived as a high-risk destination, with too much corruption and government oversight that falls short when measured against the United States, Europe, and other more developed economies.
The First National Community Bank of Dunmore, Pennsylvania (FNCB) admitted that it failed to file suspicious activity reports on transactions linked to the judicial corruption scheme known as "cash for kids" that spanned more than five years.
Readers of the FCPA Blog are no strangers to the heightened attention recently paid to the Foreign Corrupt Practices Act. Much of that attention, unfortunately, comes from a neomercantilist perspective.
In a speech Tuesday at CBI's Annual Pharmaceutical Compliance Congress in Washington D.C., the head of the SEC's enforcement division, Andrew Ceresney, left, talked about the most common ways pharmas violate the FCPA.
I recently wrote on the FCPA Blog about anti-corruption internal controls in China related to the Bruker Corporation settlement. That post focused mainly on policy translation, local language training, and independent compliance oversight of local operations. Another common compliance weakness, in my experience, relates to disbursement controls in China -- specifically, the unfortunately all-too-common problem of inauthentic fa piao.